Price of gold coin increases sharply in Iran
Azerbaijan, Baku, Aug. 20 /Trend/
The Central Bank of Iran has increased the price of Bahar-e Azadi gold coin because of fluctuations in the global market, MNA reported quoting Governor of Central Bank of Iran Mahmoud Bahmani as saying.
"Since the price of gold in the global market increased, it is inevitable that the Central Bank of Iran increases the price of gold coin," he said.
The price of gold coin increased sharply to 5.08 million rials (about $461) Saturday.
Bahar-e Azadi Coin is an Iranian gold coin minted by the Central Bank of Iran (CBI).
Cut of foreign currency supply by the Central Bank of Iran has recently resulted in the increase of USD exchange rate while the gold price shadowed by global fluctuations.
The Central Bank of Iran started to reduce USD prices to maintain the prices. However, the gap between independent foreign exchange market and official USD rate increased while the current fluctuations in global market shadowed Iranian market.